New developer needed for prime riverfront property

Fort Wayne's Prime Riverfront Property hits an unexpected drawback.
Now the city is saying it's in need of a new developer.

Posted: Feb 18, 2019 7:09 PM

Updated: Feb 19, 2019 6:18 AM

Posted By: Jentill Neal

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FORT WAYNE, Ind. (WFFT) - The City of Fort Wayne is seeking a new developer for the prime riverfront property located at the northeast corner of Harrison and Superior streets.

The Fort Wayne Redevelopment Commission approved an economic development agreement to build a mixed-use project with Continental Property Group (CPG), but it appears CPG cannot meet the conditions of that agreement.

"We want great projects. We want quality projects, but not just at any cost to our community, so we're going to move forward with those priorities in mind. We're going to move swiftly, but not irresponsibly, and hope that we have a developer and development plan partner in place and perhaps ready to go in Summer 2020," Redevelopment Director Nancy Townsend said.

On a positive note, the city has heard from other interested developers.Because Fort Wayne is a growing city, parking is a concern and who ever steps up would have to be responsible for that.

"The developer would need to provide parking, adequate parking for their proposed project. whatever that might be, but we also want additional parking available to support our riverfront developments Promenade Park, Headwaters Park, and other downtown activities. There's a pretty high demand for parking, a pretty high demand for being downtown, whether you're living here, working here or playing here that requires parking," Townsend added.

The site is also next to the newly renovated Superior Lofts and where the Cambray building used to sit.

The previous developer was also over the 29 acre North River Project.

That's on pause right now.

The city really wants to plan and make sure everything is set before they begin that portion again.